Lineage (NASDAQ:LINE) Shares Break Below 200 Day Moving Average – Time to Sell?

Lineage, Inc. (NASDAQ:LINE)’s share price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $38.75 and traded as low as $34.36. Lineage shares last traded at $34.88, with a volume of 3,535,808 shares.

Analysts Set New Price Targets

LINE has been the subject of several research analyst reports. Robert W. Baird lowered their price objective on Lineage from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday. Evercore set a $43.00 price target on shares of Lineage in a report on Friday, October 2nd. Royal Bank Of Canada lifted their price objective on shares of Lineage from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, August 17th. JPMorgan Chase & Co. reduced their price target on Lineage from $40.00 to $37.00 and set an “underweight” rating on the stock in a research note on Thursday, October 15th. Finally, Wall Street Zen upgraded shares of Lineage from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.73.

Lineage Trading Down 1.3%

The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $7.95 billion, a PE ratio of 87.32 and a beta of 0.79. The company has a 50 day simple moving average of $36.13 and a 200 day simple moving average of $38.74.

Lineage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 21st. Stockholders of record on Wednesday, September 30th were given a $0.5325 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.13 annualized dividend and a dividend yield of 6.1%. Lineage’s dividend payout ratio is presently 532.50%.

Insider Activity at Lineage

In other Lineage news, Chairman Kevin Marchetti acquired 25,000 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was acquired at an average price of $39.50 per share, with a total value of $987,500.00. Following the transaction, the chairman directly owned 138,690 shares in the company, valued at approximately $5,478,255. This represents a 21.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 71.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of LINE. Whittier Trust Co. bought a new stake in Lineage during the third quarter valued at about $479,000. Private Wealth Asset Management LLC acquired a new stake in shares of Lineage in the third quarter valued at $198,000. Focus Advisor Solutions LLC increased its holdings in shares of Lineage by 92.9% in the third quarter. Focus Advisor Solutions LLC now owns 24,311 shares of the company’s stock valued at $830,000 after purchasing an additional 11,708 shares in the last quarter. Cibc World Market Inc. boosted its holdings in Lineage by 161.3% in the third quarter. Cibc World Market Inc. now owns 43,649 shares of the company’s stock valued at $1,489,000 after acquiring an additional 26,946 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of Lineage by 5.3% in the 3rd quarter. HighTower Advisors LLC now owns 2,407,052 shares of the company’s stock worth $82,129,000 after purchasing an additional 120,886 shares during the last quarter.

About Lineage

Lineage, Inc. is a global temperature-controlled warehousing and logistics company. It operates refrigerated and frozen storage facilities that help food producers, retailers, and other customers manage products that require controlled temperatures. Its services include cold storage, food processing and handling, blast freezing, transportation, and other supply-chain solutions. By connecting warehouses with transportation and distribution networks, Lineage supports the movement of perishable goods from producers to consumers.